When Does Your Accounting Software Need an Upgrade?

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As with any business software, there comes a time when the technology of yesterday simply cannot keep up with the demands of today. In the digital age, technology changes and advances so quickly, it seems as though a new version comes out before you’ve even mastered the one you use. While it is not imperative to advance to every updated version that arrives on the market, you can’t keep the same software forever.

As a general rule, you should update your accounting software every 7-10 years. However, with the speed of technology today, you may want to consider a shorter lifespan. Though it can be time-consuming, investing in new accounting software can save your company much time and money. The efficiency of most new programs will far outweigh the initial costs and inconvenience of switching.

Timing can be important when upgrading to new accounting software. Installation, transferring data, and adapting to new programs and operations can be time-consuming so you want to be sure you allow you and your business enough room to do this rather seamlessly. After the fiscal year may be ideal, but if your fiscal year aligns with year-end, it may be a busier, more expensive time to switch since this is when most companies are doing the same. Try to pick a slow time where you have ample space in your calendar to adapt.

Liberty Fox can integrate your new software into your current system or design you a custom version that works best for you.


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